Inside Financial Markets

Pakistan stocks take a 325-point hit on 10% wealth tax imposition news

kse-slumps-Pakistan stocks take a 325-point hit on 10% wealth tax imposition news

 KARACHI: Profit-booking weighed down on an overbought Karachi Stock Exchange, which closed lower on Monday.

The benchmark 100-Index index retreated to 22,216.46 mark after losing 1.44 percent, or 325.18 points.

Monday’s notable losers were D.G.Khan Cement Co Ltd and Pakistan Telecommunication Co Ltd, which suffered losses worth 3.34 percent and 3.18 percent to reduce to Rs85.66 and Rs22.19 respectively.

In the currency market the rupee ended weaker at 98.53/98.58 against the dollar, compared to Friday’s close of 98.51/98.56.



Ali Nawaz

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)